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KDX Realty Investment Corp. To Sell Office Building Near Utsunomiya Station

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KDX Realty Investment Corp. To Sell Office Building Near Utsunomiya Station

KDX Realty Investment Corp. To Sell Office Building Near Utsunomiya Station

KDX Realty Investment Corp. will sell “KDX Utsunomiya Building,” an office building in Utsunomiya, Tochigi Prefecture, for JPY 3,150 million. The sale and purchase agreement was executed on April 27, 2026, with closing scheduled for the following day, April 28. The buyer is a domestic operating company.

The property is a 10-story office building with one basement level, built with steel and steel-reinforced concrete structure. It is located approximately a three-minute walk from JR Utsunomiya Station, on a parcel slightly set back from the main avenue leading to the city center. Completed in February 1999, the property has a Gross Floor Area of approximately 2,342 tsubo (approx. 83,342 sq. ft.). It has 25 tenants and was 100% occupied as of the end of March 2026.

The investment corporation acquired the property in May 2014 for JPY 2,350 million and has operated it over the long term. It decided to sell the asset to improve portfolio quality, as future upside in rental income is expected to be limited given the property’s location characteristics and scale, while capital expenditures and repair costs are also expected to increase. The sale price is above the most recent appraised value of JPY 2,650 million. After the sale, the portfolio will comprise 343 properties, including 86 office buildings, which will account for 33.9% of the portfolio by investment ratio.

Key Facts

  • Property Name: KDX Utsunomiya Building

  • Seller: KDX Realty Investment Corp.

  • Buyer: Domestic operating company (undisclosed)

  • Transfer Price: JPY 3,150 million

  • Location: 1-3-1 Ekimaedori, Utsunomiya, Tochigi Prefecture

  • Nearest Station: Approximately three-minute walk from JR Utsunomiya Station

  • Completion: February 1999

  • Number of Floors: 10F / B1 (S/SRC structure)

  • Gross Floor Area: Approximately 2,342 tsubo (approx. 83,342 sq. ft.)

  • Appraised Value: JPY 2,650 million (as of Oct. 31, 2025; Daiwa Real Estate Appraisal)

  • Capitalization Rate: 5.2%

  • Occupancy Rate: 100% (as of the end of March 2026)

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